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Judge Rejects Quigley's Claims - Karkus Director Candidates Prevail in Federal Court
Date:5/18/2009

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  • That registration statement reported net sales of $14,556,000 and Income from Operations of $2.507 million for Innerlight Holdings for the remainder of 2008 (after the sale).
  • Your Company, The Quigley Corporation, received just $1 million dollars cash for Darius/Innerlight Inc.
  • Is that really all that Darius was worth? Why does Gary Quigley receive royalty payments from Innerlight Holdings?

  • Should you rely on the current board to approve appropriate strategic initiatives, licensing deals, royalty deals, and divestitures in the future given their handling of the Darius transaction?

    REASON NUMBER THREE: The Future of Your Company Is At Stake.

    • Spending on Research and Development has continued to shrink. Under the current Board's stewardship, in the first quarter of 2009, the Company spent less than $250,000 on R&D while losing over $2 million.
    • Wouldn't the enormous amount of money spent in litigation trying to prevent us from seeking Board seats have been better spent on R&D?
    • With the incumbent board, will excessive compensation to management and their family members continue? Will the decline in revenues and posting of losses continue? Will shareholders' equity continue to drop? Will R&D spending continue to decline?

    As shareholders, we need to make changes to our Board of Directors NOW before the situation gets even worse. We simply CANNOT afford to let this continue.

    REASON NUMBER FOUR: Can You Believe What The Incumbents Tell You?

    • In a press release and letter to you dated May 7th, the Company told you the following:

    "... at no point in time
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    SOURCE Ted Karkus
    Copyright©2009 PR Newswire.
    All rights reserved

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